Ethereum Surpasses Bitcoin in Spot Volume
According to Crypto Quant and media reporting, Ethereum (ETH) recorded $25.7 billion in spot trading volume last week, edging out Bitcoin’s $24.4 billion a notable flip above the 1:1 ETH/BTC volume ratio for the first time since June 2024(Globedge).
This milestone reflects a broader shift: ETH price jumped roughly 26%, while Bitcoin declined ~1.6%, indicating stronger bullish momentum behind Ethereum, possibly heralding the start of an altcoin season (AInvest).
Supporting the trend:
- Institutional inflows poured into Ethereum ETFs over $2.18 billion between July 14–18 and another $1.39 billion thereafter. Meanwhile, Bitcoin ETFs saw $285 million in redemptions July 21–23 (AInvest).
- On‑chain data shows exchange reserves of ETH declining ~3.5%, pointing to accumulation behavior (AInvest).
- ETH futures open interest hit a record $28 billion on July 22, though with $150 million in long liquidations shortly after illustrating both confidence and caution among futures traders (AInvest).
Altogether, these signals suggest growing confidence in Ethereum’s ecosystem and capital rotation away from Bitcoin.
XRP Breaks $3.60: Analysts Eye $4–6 Targets
Ripple’s XRP recently surged past $3.60, its highest level since early 2018. Analysts highlight a critical breakout from long consolidation and expect further gains (Cryptonews, AInvest, TipRanks).
Technical Outlook:
- A bullish “flag” or ascending triangle breakout suggests a measured move toward $5.25, and Fibonacci extensions point to potential targets up to $6.19, with some projections even more optimistic between $6.50 and $35, assuming continued momentum (Finance Magnates).
- Other analysts emphasize a cautious path wherein reclaiming $3.40 – $3.65 resistance could unlock moves toward $3.84 (the January 2018 high), then to $4.65 and beyond (e.g. $4.11 → $4.65) (cryptorank.io).
Risk Scenarios:
- Price slipping back below $3.40 may lead to a retracement toward $3.20 or even $2.90 – $2.50 support zones. A break below $2.90 could open deeper decline risk to $2.50 or lower trend levels (The Economic Times).
Putting It All Together
| Asset | Recent Move | Positives | Risks / Targets |
|---|---|---|---|
| ETH | Spot volume > BTC; inflows & gains | Institutional inflows; declining reserves; strong ETF interest | Volatility remains, depends on ETF approvals and market sentiment |
| XRP | Broke above $3.60 resistance | Strong technical breakout; Fibonacci targets up to $6+ | Vulnerable if support fails; profit-taking risk |
Ethereum’s volume flip signals rising investor appetite beyond Bitcon, fueled by ETF catalysts and technological confidence. XRP’s breakout beyond $3.60 confirms renewed speculative fervor while technical models suggest room to grow toward $4–6, failure to sustain support could trigger pullbacks.
Why It Matters
- Market Structure Shifts: Ethereum leading volume over Bitcoin may indicate capitulation to altcoin momentum and shifting institutional strategies.
- ETF Influence: The growth in ETH spot ETFs and the XRP ETF ecosystem highlights institutional investors diversifying beyond Bitcoin.
- Investor Sentiment: ETH’s reserve declines and futures open interest reflect accumulation and shifting confidence; XRP’s breakout reflects technical enthusiasm.
- Volatility and Risk: Both assets remain exposed to macro, regulatory, or crypto-specific shocks momentum may reverse if broader conditions sour.
Summary
Last week, Ethereum recorded $25.7 billion in spot trading volume, overtaking Bitcoin’s $24.4 billion a significant development signaling Ethereum’s potential market ascendancy for the first time since June 2024 (TradingView, CoinStats, CoinStats, TipRanks, Finance Magnates, Coinpedia Fintech News, AInvest). The ETH/BTC volume ratio climbed above 1 amid a 26% price rally in ETH compared to Bitcoin’s 1.55% decline, highlighting capital rotation into Ethereum and speculation that an altcoin season may be emerging (AInvest).
Institutional participation intensified via Ethereum spot ETF inflows totalling over $3.5 billion in mid-late July, while Bitcoin ETFs faced outflows. On-chain data, including falling exchange reserves and record futures open interest, suggests strong accumulation and bullish demand (AInvest).
Meanwhile, XRP broke past $3.60, marking its highest level since early 2018, with analysts charting further upward targets. Technical structures such as breakout flags and Fibonacci extensions point toward $5.25, $6.19, and potentially even $6.50–$35, though downtrend risk remains if major supports give way (Finance Magnates). Analyst Casi Trades identifies $3.40 support, with a potential path toward $4.11 then $4.65 if the $3.60–$3.65 zone breaks decisively breakdowns, conversely, could bring XRP back to $3.20 or even $2.50 (cryptorank.io).
Ethereum’s volume surge signals broader investor tilt toward its ecosystem, and XRP’s breakout highlights momentum-driven speculation amplifying across altcoins. While both assets benefit from renewed interest, they face volatility and technical test points ahead.
